OMAHA (DTN) -- Cattle and calves on feed for the slaughter market in the United States for feedlots with capacity of 1,000 or more head totaled 11.6 million head on June 1, 2018, USDA reported on Friday. The inventory was 4% above June 1, 2017. This is the highest June 1 inventory since the series began in 1996.
Placements in feedlots during May totaled 2.12 million head, slightly above 2017. Net placements were 2.05 million head. During May, placements of cattle and calves weighing less than 600 pounds were 445,000 head, 600-699 pounds were 340,000 head, 700-799 pounds were 480,000 head, 800-899 pounds were 524,000 head, 900-999 pounds were 235,000 head, and 1,000 pounds and greater were 100,000 head.
Marketings of fed cattle during May totaled 2.06 million head, 5% above 2017.
Other disappearance totaled 73,000 head during May, 4% above 2017.
"The June 1 on-feed report looks somewhat negative thanks to a larger-than-expected placement activity in May," said DTN Livestock Analyst John Harrington. "Indeed, last year's in-movement was historically large (the largest since 2007). So the fact that feedlots equaled that effort last month is fairly impressive.
"Look for cattle futures to open lower on Monday, possibly as much as 100-200 points. Lower feedlot sales developing Friday afternoon will not help the general psychology."
To view the full report, visit https://www.nass.usda.gov/…
|USDA Actual||Average Guess||Range|
|Cattle on Feed:|
|On Feed June 1||104.0%||103.5%||103.0-104.5%|
|Placed in May||100.0%||96.0%||92.0-101.0%|
|Marketed in May||105.0%||105.0%||104.0-105.5%|
John Harrington can be reached at firstname.lastname@example.org
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